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N.Y. Fed Manufacturing Index Unexpectedly Falls to -1.98 in June

The employment index increased to 8.65 from 5.21 in May

By

Kathleen Madigan

June 15, 2015 9:07 a.m. ET

New York state business conditions in June are contracting for the second time in three months, according to data released Monday by the Federal Reserve Bank of New York. Hiring, however, is picking up.

The Empire State’s business conditions index unexpectedly dropped to -1.98 in June from 3.09 in May and -1.19 in April.